This program has STOPPED paying! Do not invest there!
In our “First Thoughts” article about Steaks Center that we published a few days ago, we introduced the company and also said a few words about the single investment plan that it offers. This will be a short review because the investment plan is so easy to understand.
OK, the Steaks Center investment plan pays you 10% daily gross interest for a period of 11 days — and that’s it. The minimum investment if only $10. So, anyone can afford to invest with them.
If you earn 10% interest per day for 11 days, your total gross interest will be 110% (10 x 11). Subtracting 100% from this because your earnings include your deposit, you come out with a total net interest of 10%. Finally, dividing this by the 11-day length of the investment plan, you get a daily net interest (DNI) of 0.91% (10/11). This means that, on the average, you earn 0.91% PROFIT per day with this program.
If we refer back to HYIP Insights #12, we suggested that programs having investment plans with DNIs of less than 1% would be good candidates for long term survival. So, in this regard, Steaks Center is on target. On the other hand, the interest paid by this investment plan IS lower than what you will find offered by many other HYIPs. So, it is not as profitable. The investor has to make a choice: sensible interest rates with a good chance of long-term program survival or risky interest rates with a poor chance of long-term survival. Clearly, Steaks Center has provided an investment plan aimed at the first type of investor. In our opinion, that’s definitely the wiser way to go.
To put your earnings into weekly terms, your effective weekly profit would be seven times the DNI of 0.91% or around 6.4%. This is a matter of taste; but as far as I’m concerned this is a satisfactory level of income that, in the HYIP world, could prove to be stable in the long term.
Well, how much money can be made by this program? In terms of percents, we already discovered that your total net interest is 10% in the 11-day period. This means that, if you invest $100 in the plan you would get back a total of $110 by the end of it — a total net profit of $10. Still thinking of an investment of $100, at a 10% gross return per day, you would be receiving $10 in earnings every day. So, at the end of the tenth day, you will have broken even. Your interest on the eleventh day is your $10 profit.
A nice feature of this type of investment plan is that you are recovering your initial deposit at a very quick pace. Ten percent gross interest per day is FAST and it enables you to recover your investment quickly; after only five days, you have recovered HALF of your investment. This differs from the type of investment plan where you receive a lower daily return and your investment is returned at he end of the plan. This is the “nail-biting” type of plan where the investor worries about losing his investment if the plan closes before it is scheduled to end. No such thing with the Steaks Center investment plan. We wrote an article comparing these two types of investment plans in HYIP Insights #18.
For the VERY adventuresome (crazy?) investor, there is always the possibility of compounding your earnings by reinvesting your principal PLUS earnings at the end of every 11-day period. I calculate that, by means of compounding, at the end of around one-half year, an initial deposit of $100 can grow to over $450! That’s the upside of this. The downside, of course is that you can lose everything if the program should close before then! We wrote a three-part article about compounding in HYIP Insights #11 that you might want to look at for more information on the pros and cons of compounding.
Well, that’s about it for the Steaks Center investment plan. In summary, I think we can safely say that it is probably a good choice for the conservative investor who is thinking of more or less stable long-term profit. It is probably not the right cup of tea for the investor who would like to earn a lot of money in a very short period of time.
However, always remember that investing in ANY online HYIP is risky business. So, due your own “due diligence” and never invest more than you can afford to lose.
I hope this information is helpful.
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